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7 stories mentioning ASX:ERAUpdated 22d ago

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Energy Resources of Australia Shareholder Appeals Court Approval of Rio Tinto's Compulsory Takeover

Energy Resources of Australia (ASX:ERA) said shareholder Zentree Investments is appealing the Australian Federal Court's approval of Rio Tinto Group's (ASX:RIO) compulsory acquisition of the remaining shares in the firm, according to a Wednesday filing with the Australian bourse.The appeal extends the timeframe for the deal's completion to 14 days after the appeal is determined.Energy Resources of Australia said it will monitor the appeal proceedings and engage with the ASX to determine what implications the appeal has on its suspension from trading and delisting.Rio Tinto shares fell 2% in recent Wednesday trade.

ASX:ERAASX:RIO
Asia

Deep Yellow to Acquire Energy Resources of Australia's Stake in Northern Territory Joint Venture

Deep Yellow (ASX:DYL) entered into a binding agreement with Energy Resources of Australia (ASX:ERA) to acquire its 50% participating interest in the Cooper Creek joint venture, according to a Tuesday filing with the Australian bourse.The company will pay Energy Resources AU$648,000 cash upon completion of the transaction, expected to occur within 10 business days upon meeting standard conditions, the filing said.The joint venture holds two exploration license applications covering 810 square kilometers in the northern part of the Alligator Rivers uranium province in the Northern Territory, per the filing.Deep Yellow shares fell 1% in morning trade on Tuesday.

ASX:DYLASX:ERA
Asia

Update: ASX Biggest Losers

(Updates to add tickers)Here are the ASX-listed companies with the biggest losses on Friday:Energy Resources of Australia (ASX:ERA): -20%, AU$0.002United Overseas Australia (ASX:UOS): -6%, AU$0.68Tamboran Resources (ASX:TBN): -7%, AU$0.22REA Group (ASX:REA): -4%, AU$141.51News Corp (ASX:NWS): -4%, AU$42.45Viva Energy Group (ASX:VEA): -4%, AU$2.24DigiCo Infrastructure REIT (ASX:DGT): -4%, AU$2.43Tuas (ASX:TUA): -3%, AU$2.62Anteris Technologies Global (ASX:AVR): -3%, AU$13.08Beach Energy (ASX:BPT): -2%, AU$1.06

ASX 200ASX:AVRASX:BPTASX:DGTASX:ERAASX:NWSASX:REAASX:TBNASX:TUAASX:UOSASX:VEA
Asia

Rio Tinto's Acquisition of Remaining Energy Resources of Australia Shares Approved by Federal Court

Rio Tinto's (ASX:RIO) acquisition of the remaining shares in Energy Resources of Australia (ASX:ERA) has been approved by the Federal Court of Australia, a Friday judgment disclosure by the court showed."Having considered the evidence before me and Zentree's objections (and, to the extent they differ, those of the other objecting shareholders). I am satisfied that the terms set out in the Notice give a fair value for the shares in ERA," the judgment said.Energy Resources of Australia said it will need time to review the judgment and prepare its market response, and the trading halt on its shares will remain in place until the earlier of it releasing a disclosure about the proceedings or the start of trading on June 9, according to a Friday Australian bourse filing.The company's shares fell 2% in recent Friday trade.

ASX:ERAASX:RIO
Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Friday.Energy Resources of Australia (ASX:ERA): -20%, AU$0.002Champion Iron (ASX:CIA): -5%, AU$4.54Superloop (ASX:SLC): -5%, AU$3.42Weebit Nano (ASX:WBT): -4%, AU$7.05Helia Group (ASX:HLI): -3%, AU$4.84GemLife Communities Group (ASX:GLF): -3%, AU$4.45Karoon Energy (ASX:KAR): -3%, AU$1.94Viva Energy Group (ASX:VEA): -2%, AU$2.11Ryman Healthcare (ASX:RYM): -2%, AU$1.88CSL (ASX:CSL): -2%, AU$96.05

ASX 200ASX:CIAASX:CSLASX:ERAASX:GLFASX:HLIASX:KARASX:RYMASX:SLCASX:VEAASX:WBT
Asia

ASX Most Active Stocks

Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Monday.Energy Resources of Australia (ASX:ERA): 28.5 million sharesCore Lithium (ASX:CXO): 19.2 million sharesArafura Rare Earths (ASX:ARU): 10.9 million sharesEQ Resources (ASX:EQR): 9.4 million sharesPredictive Discovery (ASX:PDI): 4.6 million shares

ASX 200ASX:ARUASX:CXOASX:EQRASX:ERAASX:PDI
Asia

Energy Resources Says Court Hearing of Rio Tinto's Application for Compulsory Acquisition of Its Shares Completed in February, Shares Fall 25%

Energy Resources of Australia (ASX:ERA) said the court hearing of Rio Tinto's (ASX:RIO) originating motion seeking approval for its proposed compulsory acquisition of the remaining shares in the firm was completed in February, and the court decision was pending, according to a Friday Australian bourse filing.Rio acquired more than 98% of Energy Resources' shares and initiated the process to compulsorily acquire the remaining Energy Resources shares on April 11, 2025.After the objection period expired on May 19, 2025, Rio Tinto confirmed that 123 shareholders, representing around 43% of the shares subject to the acquisition, lodged formal objections. As this exceeded the 10% threshold, the acquisition could not go ahead without court approval.Progressive rehabilitation of the Ranger project area in the Northern Territory continued during the March quarter, the filing added.Its shares fell 25% in recent trading on Friday.

ASX:ERAASX:RIO

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